$0.18 Earnings Per Share Expected for Imax Corp (IMAX) This Quarter

Wall Street analysts expect Imax Corp (NYSE:IMAX) to report earnings of $0.18 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Imax’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.08. Imax reported earnings of $0.21 per share in the same quarter last year, which indicates a negative year over year growth rate of 14.3%. The business is expected to report its next quarterly earnings results on Tuesday, May 7th.

On average, analysts expect that Imax will report full year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.13. For the next fiscal year, analysts forecast that the company will report earnings of $1.26 per share, with EPS estimates ranging from $1.09 to $1.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Imax.

Imax (NYSE:IMAX) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $109.00 million for the quarter, compared to the consensus estimate of $101.42 million. Imax had a return on equity of 6.44% and a net margin of 6.10%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Imax from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Monday, December 31st. Wedbush reaffirmed an “outperform” rating and set a $28.00 target price on shares of Imax in a research note on Friday, February 22nd. Barrington Research reaffirmed a “buy” rating and set a $27.00 target price on shares of Imax in a research note on Wednesday, March 6th. Canaccord Genuity cut Imax from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Monday, February 25th. Finally, B. Riley set a $34.00 target price on Imax and gave the company a “buy imax” rating in a research note on Monday, December 24th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Imax currently has a consensus rating of “Buy” and a consensus price target of $26.83.

NYSE IMAX opened at $22.68 on Monday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 40.50, a P/E/G ratio of 1.46 and a beta of 1.07. Imax has a 1 year low of $17.55 and a 1 year high of $26.10.

In related news, insider Robert D. Lister sold 59,767 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $22.54, for a total value of $1,347,148.18. Following the completion of the sale, the insider now owns 39,163 shares of the company’s stock, valued at approximately $882,734.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Patrick Mcclymont sold 8,596 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $22.43, for a total value of $192,808.28. Following the completion of the sale, the chief financial officer now directly owns 7,564 shares of the company’s stock, valued at approximately $169,660.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,205 shares of company stock worth $2,766,929. Company insiders own 18.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new position in shares of Imax during the third quarter worth approximately $113,000. Point72 Hong Kong Ltd raised its stake in shares of Imax by 185.5% in the third quarter. Point72 Hong Kong Ltd now owns 5,921 shares of the company’s stock valued at $153,000 after purchasing an additional 3,847 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Imax by 29.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock valued at $195,000 after purchasing an additional 2,379 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Imax in the third quarter valued at $278,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Imax in the fourth quarter valued at $218,000. Hedge funds and other institutional investors own 79.36% of the company’s stock.

Imax Company Profile

IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, or joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.

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Earnings History and Estimates for Imax (NYSE:IMAX)

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